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India seeks additional investments from UAE in infra, energy & defence sectors


India has invited further investments from UAE in key sectors of the economy including infrastructure, logistics, food parks, highways, ports, airports, renewable energy and defence.

Expanding economic partnership was key item on the agenda on the 13th Session of the India-UAE Joint Commission Meeting on Trade, Economic and Technical Cooperation held virtually on Monday.

Both sides expressed optimism over the growing trade, economic and investment cooperation between the two countries. The UAE side conveyed appreciation for the significant contributions made by the Indian expatriate community and expressed its willingness to further strengthen links in energy and food security.

The meeting was co-chaired by Dr. Subrahmanyam Jaishankar, Minister of External Affairs of India and Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation of the United Arab Emirates. The two Ministers had also spoken last week following establishment of diplomatic ties between UAE & Israel.

On August 13, the Senior Officials Meeting (SOM) was also held virtually between Sanjay Bhattacharyya, Secretary (Consular, Passport and Visa & Overseas Indian Affairs) and Abdul Nasser Al Shaali, Assistant Minister of Economic and Trade Affairs, Ministry of Foreign Affairs and International Cooperation of the United Arab Emirates.

In preparation for the JCM and SOM, virtual meetings of the members of the 5 Sub-Committees from India and the UAE on Overview and High-level exchanges; Economic, Trade and Investment cooperation; Consular & Community Affairs cooperation; Defence and security cooperation; and Education, culture and youth cooperation were held on 10 and 11 August 2020.

Noting the close political relations between the two countries, both sides expressed satisfaction over the sustenance of momentum in the bilateral relations in various areas for mutual benefit under the aegis of the Comprehensive Strategic Partnership, according to a MEA statement. They agreed to strengthen cooperation in ongoing areas and also to explore cooperation in newer areas reflecting the changing times.

In this context, both sides welcomed the close cooperation during the last few months in the fight against the COVID-19 pandemic and discussed a joint strategy to offset the economic and social impact of the pandemic on both countries, according to the statement issued after the meeting.

Both sides also discussed the regional issues pertaining to their neighbourhood and cooperation at the United Nations and other multilateral fora.

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